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negotiating pay raise

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  • Avatar BlueCollarMD 
    Participant
    Status: Physician
    Posts: 19
    Joined: 08/20/2018

    Wow – the fact that he brought up the pay raise gives you leverage going in to the meeting. Have you thought about seeing if Jon at Contract Diagnostics could assist? Would be worth at least a call, I think.

    Click to expand…

    i’m looking at it differently.  the fact that the boss brought up the pay raise means the deal is going to change.  he is going to give more work and hope that he can sell it with more money.  the other partner on the verge of retirement is concerning.  brings up a lot of questions about the future-call, coverage, vacations, etc etc  plus various organizational goals need to be implemented.  it would be better if there was a transition plan already implemented.  of course, most places can’t think that far ahead, so we often find physicians to be placed in terrible situations during times of transition.  they’ve already shown they are willing to pay him below average wages.

    of course i could be wrong.  hope i am.

    good luck.

     

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    Agree, the boss may simply be smart, looking at the problem of recruiting a replacement or losing tens of millions in gross margin on chemotherapy if he can’t.  The OP won’t be able to do it alone. There are many hospitals in the US with or formerly with small oncology programs that are chronically under or un-staffed because there is a shortage of medical oncologists.  The younger ones are attracted to more urban hospitals and the overall demographic is weighted to physicians in their 50’s, many of whom are financially secure and not completely happy with the transition from private practice to hospital employment. Infusion volumes are going up in part because people with advanced cancers (the patients who require the most care and attention) are living longer owing to new immune therapies and other treatment advances.  The aging baby boom is increasing the patient population, increased longevity/time on treatment, a wave of upcoming physician retirements–a major crisis in supply is forecast and is already happening in some areas.  If there is any specialty where doctors have leverage, this is it.

    #198629 Reply
    Liked by q-school
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 7748
    Joined: 01/09/2016

    Wow – the fact that he brought up the pay raise gives you leverage going in to the meeting. Have you thought about seeing if Jon at Contract Diagnostics could assist? Would be worth at least a call, I think.

    Click to expand…

    i’m looking at it differently.  the fact that the boss brought up the pay raise means the deal is going to change.  he is going to give more work and hope that he can sell it with more money.  the other partner on the verge of retirement is concerning.  brings up a lot of questions about the future-call, coverage, vacations, etc etc  plus various organizational goals need to be implemented.  it would be better if there was a transition plan already implemented.  of course, most places can’t think that far ahead, so we often find physicians to be placed in terrible situations during times of transition.  they’ve already shown they are willing to pay him below average wages.

    of course i could be wrong.  hope i am.

    good luck.

    Click to expand…

    Very interesting points – I always enjoy your perspective.

    The OP wrote this on January 21 – any updates, skiMD ?

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #198672 Reply
    Liked by Zaphod, Tim

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